Mikie Sherrill waffled a bit after signaling support for Zohran Mamdani’s NYC mayoral campaign, Save Jerseyans, but she might soon be thanking her luckly stars that our socialist neighbor across the Hudson won his recent election. That’s because sometimes your own deficits can be masked, at least in part, by the handicaps of your competition.
It’s been reported that Comrade Mamdani wants to match New Jersey’s 11.5% corporate tax rate; New York would jump from having the nation’s 17th highest corporate tax rate to a dead heat for first place.
Even New Jersey Democrats recognize the move’s potential to upend the regional business dynamic.
“This proposal is absolute suicide for NYC and an Absolute dream for NJ,” outgoing Jersey City Mayor and ex-gubernatorial candidate Steven Fulop opined on X. “Speaking as both a NJ mayor and the incoming CEO of the Partnership for NYC: I can’t think of an easier narrative to torch supporters of this idea (both politically and governmentally). Even if believe companies won’t move, what remains 100% indisputable is they certainly won’t create a single new jobs in NYC.”
He’s not wrong that it’s economic suicide. So for Mikie, she likely believes she’s in a win-win position as her new administration takes shape. If the national economy roars in 2026? She’ll take credit. If it doesn’t? She’ll blame the President, fairly or not. In either scenario, she’ll hope that a new NYC exodus pads the Garden State’s margins…
Not particularly inspiring, but this is politics after all. No one said it was fair! Least of all to the voters who suffer for their neighbors’ choices…
Mayor-elect Mamdani hopes to raise the corporate tax to match New Jersey’s 11.5%. That would move NY from the 17th highest state corporate tax in the nation to tie for #1. pic.twitter.com/IxqXq75kbK
— Steven Rattner (@SteveRattner) November 14, 2025
